Addressing Infrastructure Deficits through Public-Private Partnership Funding of Public Projects in Nigeria

A Review

Abstract

This paper examined the effectiveness of Public-Private Partnerships (PPPs) in addressing Nigeria's infrastructure deficit. Its specific objective was to assess the challenges and opportunities associated with PPPs in funding public projects. Methodologically, it reviewed existing literature, policy documents, and case studies to provide a comprehensive analysis. The findings revealed that PPPs in the country were impeded by financial constraints, corruption, inadequate political will, and a lack of expertise among local institutions. These challenges notwithstanding, PPPs offered significant potential for infrastructure development in the country if legal and regulatory frameworks were strengthened, access to finance was improved, and transparency and accountability were promoted. The study concluded that with strategic partnerships and concerted efforts, Nigeria could fully realize the benefits of PPPs, fostering sustainable economic growth and enhanced public service delivery. Its recommendations included enhancing capacity building, fostering stakeholder engagement, and leveraging international partnerships.